Venezuela Puts a Hurt
On Colgate's Results

Company predicts a $200 million loss

02.19.14

Colgate, the world's biggest maker of toothpaste, said Tuesday it will take a one-time charge of as much as $200 million as a result of new monetary policies in Venezuela. In January, the Venezuelan government said foreign companies investing in Venezuela will be required to make purchases at a rate established at weekly central bank auctions. Colgate said the latest price was 11.7 bolivars per dollar. The official exchange rate is 6.3 bolivars per dollar.

Colgate-Palmolive Co. said that if the rate remains at 11.7 bolivars per dollar, it expects a charge of $180 million to $200 million, or 19 to 21 cents per share, in the first quarter.

It said that at current rates, the policy would also reduce its annual net income by 11 to 14 cents per share.

INDA, the Association of Nonwoven Fabrics Industry, today announced the settlement of the class action lawsuit brought by the City of Perry, IA in which Perry alleged damages from flushable wipes manufactured by a number of flushable wipes producers.…

Booth has just released its new Lemon Sugar Energizing Body Bar. The bar contains the refreshing fragrance of lemon sugar while gently exfoliating with sweet orange peel. Booth’s Bar is free of parabens, sulfates, mineral oil and petrolatum. Th…

A superior shaving experience—for women—is Umi Shave Club’s goal. The new company offers a complete line of skin-friendly shaving products, including moisturizer, shaving cream and precision razors.
“We feel the women&rsq…

The American Cleaning Institute (ACI) will work to help infection control experts better understand the process and possible results from pending US Food and Drug Administration (FDA) decisions on the safety and effectiveness of certain active ingred…

At the 143nd meeting of the Cosmetic Ingredient Review Expert Panel, held June 12-13, 2017, final safety assessments and other news was unveiled. Here are the findings:
Final Safety Assessments
Hydroxyethyl-3,4-Methylenedioxyaniline HCl – h…